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High Court restricts grounds to void a transaction under Section 60 of the Companies Act 1963
- Mason Hayes & Curran
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- Ireland
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- January 27 2011
In this case a loan secured by a debenture was advanced to the company in 2006 and it was accepted by all parties that this loan was, in part, to be used in connection with the purchase of shares in the company
High court clarifies position in relation to substantial property transactions with directors
- Mason Hayes & Curran
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- Ireland
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- January 27 2011
Section 29 of the Companies Act 1990 allows a company to void a substantial property transaction with one or more of its directors or persons connected with its directors where the transaction is not approved by the shareholders in general meeting and the value of the transaction exceeds the 'requisite value'
Supreme Court clarifies law regarding preference claims for advances for the payment of wages made after the commencement of liquidations and receiverships
- Mason Hayes & Curran
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- United Kingdom
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- January 27 2011
Subsequent to the appointment of a liquidator to Bell Lines, the UK Insolvency Agency made payments, in respect of wages due to UK employees
The High Court clarifies the role of examiners and asserts control over fees charged in court monitored insolvency processes
- Mason Hayes & Curran
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- Ireland
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- January 27 2011
In January 2010 an interim examiner was appointed to Missford Limited, which operated the Residence Club, a private members club in St
Court of Appeal rejects mechanistic balance sheet test for insolvency
- Mason Hayes & Curran
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- Ireland, United Kingdom
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- March 30 2011
The English Court of Appeal has held that a company should not be held to be balance sheet insolvent on the sole basis that its liabilities (including contingent and prospective liabilities) exceed its assets
Supreme Court holds that NAMA could not make a decision prior to being established
- Mason Hayes & Curran
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- Ireland
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- March 30 2011
In Dellway and Ors. v National Asset Management Agency & Ors., a number of companies and Paddy McKillen appealed a decision of the High Court in relation to the purported acquisition of 2.1 billion in loans to the appellant companies by NAMA
High Court clarifies rights of secured creditors to object to schemes of arrangement in examinerships
- Mason Hayes & Curran
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- Ireland
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- January 27 2011
The High Court has recently clarified the grounds on which secured creditors can successfully oppose the confirmation of schemes of arrangement in an examinership
Converted floating charge still ranks behind preferential creditors
- Mason Hayes & Curran
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- Ireland
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- March 30 2011
In J.D. Brian Ltd (in liquidation) & Others the High Court held that, where a floating charge crystallised prior to the commencement of a winding-up, the preferential creditors still had priority pursuant to in section 285 of the Companies Act 1963 over the holder of what had become a fixed charge
Examiner may not limit liability in a scheme of arrangement
- Mason Hayes & Curran
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- Ireland
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- March 30 2011
The examiner sought the High Court’s approval for a scheme of arrangement which limited his liability for negligence
Current Search
- Workarea - Litigation
- Author - Gareth Steen